Sensex Today | Stock Market Live Updates: CLSA turns overweight on Indian equities on strong growth, earnings prospects

Brokerage CLSA has increased its exposure to Indian equities, citing prospects of strong economic growth, profitability and credit demand, and changed its portfolio allocation to a 20% overweight stance from 40% underweight earlier. The brokerage, which had an underweight position on India between October 2022 and March 2023, noted that it persisted "far too long with its negative view" as it changed its stance.

Strong credit impulse - the change in new credit measured in relation to GDP -, favourable energy costs, robust corporate earnings growth, stable macroeconomic outlook and improving external balance dynamics will sustain the momentum in Indian equities into 2024, CLSA said.